Prestonwood Town Center

Prestonwood Town Center is a retail property at the northeast corner of Belt Line Road and Montfort Drive in Dallas, Texas. The name refers both to the original two-level enclosed shopping mall that opened in 1979 and to the open-air retail center that replaced it after the mall was demolished. The site is associated with the commercial development of North Dallas and with the transition from enclosed regional malls to more flexible open-air shopping centers. The original Prestonwood Town Center was commonly known as Prestonwood Mall. At opening, it featured a major collection of department-store anchors, including Neiman Marcus, Lord & Taylor, JCPenney, Joske's, and Montgomery Ward. A central ice rink was one of its distinctive amenities. The rink served recreational skaters and was also used after hours by local hockey leagues, giving the mall a feature that differentiated it from conventional department-store-led shopping centers. The property initially benefited from strong occupancy and a substantial regional retail role. Its competitive environment changed during the 1980s and 1990s as nearby destinations expanded. The opening of Dallas Galleria in 1982 and the arrival of Bloomingdale's at Valley View Center in 1983 increased pressure on Prestonwood Mall. The opening of a Dallas Area Rapid Transit transfer facility beside the mall in 1985 also produced a long-running disagreement over use of the mall's parking areas. Although a limited park-and-ride arrangement was eventually permitted, the transit connection became part of the mall's public identity and management challenges. By the 1990s, the mall's position had weakened. Management's proposed major renovation, planned for the mid-1990s, did not take place. JCPenney closed in 1997, followed by Mervyn's. Neiman Marcus and Lord & Taylor, the remaining major anchors by the end of the decade, later announced moves to The Shops at Willow Bend in Plano, which opened in 2001. The loss of these anchors made it increasingly difficult to sustain the original enclosed-mall format. Archon Group acquired the property in 2000 and initially proposed a substantial conversion into a telecommunications-oriented development called Genisus Dallas North. After extensive remodeling and limited use, Archon changed course in 2003 and announced that the enclosed structure would be demolished. Demolition was completed by summer 2004. The site was then redeveloped as a roughly 62-acre open-air retail shopping center, retaining the Prestonwood Town Center name and opening in 2006. The current center has a more utilitarian and service-oriented tenant mix than the former regional mall. Reported tenants and occupants include Barnes & Noble, DSW, Michaels, Office Depot, Petco, Ulta Beauty, Walmart, restaurants, and other services. In this form, Prestonwood Town Center functions as a multi-tenant neighborhood and community retail destination rather than as a traditional enclosed department-store mall. Its history illustrates the effects of nearby retail competition, anchor-store relocation, transportation access, changing consumer behavior, and redevelopment on a late-twentieth-century American shopping mall.

Prestonwood Town Center began as a two-level enclosed shopping mall in Dallas, Texas, opening in 1979 at the northeast corner of Belt Line Road and Montfort Drive. Although formally named Prestonwood Town Center, it was widely called Prestonwood Mall. Its initial anchor lineup consisted of Neiman Marcus, Lord & Taylor, JCPenney, Joske's, and Montgomery Ward. The mall's central ice rink was a notable feature, supporting public skating and local hockey activities outside normal shopping hours. The mall's early success was challenged by the rapid growth of competing retail destinations in North Dallas. Dallas Galleria opened in 1982 with prominent department-store anchors, while Bloomingdale's opened at nearby Valley View Center in 1983. These developments gave shoppers additional destinations and gradually reduced Prestonwood's competitive distinction. In 1984, Montgomery Ward closed its store; Mervyn's replaced it in 1985. The Joske's store changed to Dillard's in 1987 following the acquisition of Joske's. Transportation issues also affected the property. Dallas Area Rapid Transit opened a major bus transfer facility beside the mall in 1985. Mall officials initially objected to commuters using the parking lot as a park-and-ride facility and warned that unauthorized vehicles could be towed. A compromise later allowed limited parking for transit users. Disagreements continued, including a temporary closure of the park-and-ride area during the 1990s. The facility eventually closed in 1999 when transit operations moved to the purpose-built Addison Transit Center. Prestonwood Mall remained close to full occupancy into the 1990s, but the combination of new competition, changing retail patterns, and reputational problems made a major modernization increasingly important. A renovation planned to begin in 1996 did not materialize. JCPenney closed in September 1997, followed soon by Mervyn's. By 1999, Neiman Marcus and Lord & Taylor were the only major anchors left. Both announced moves to The Shops at Willow Bend in Plano, which opened in 2001, leaving the older mall without its principal traffic-generating stores. Archon Group acquired the property in 2000. Its initial redevelopment concept, known as Genisus Dallas North, sought to convert the site into a telecommunications-oriented project. Although substantial remodeling occurred, the concept received only limited use. In October 2003, Archon announced a change in direction: rather than preserve the enclosed mall, it would demolish the structure and build an open-air retail center. The mall was fully demolished by summer 2004. The replacement center opened in 2006 on approximately 62 acres, retaining the Prestonwood Town Center name. Its tenant mix included Barnes & Noble, DSW, Michaels, Office Depot, Petco, Ulta Beauty, Walmart, restaurants, and service businesses. The redevelopment shifted the property from a department-store-centered regional mall to a more flexible open-air shopping and services destination. The surviving name links the current center to the former mall, but the two formats represent different phases in the evolution of Dallas-area retail real estate.

• 2006

  Replacement open-air center opens

  [1]Prestonwood Town Centeren.wikipedia.org

  A new approximately 62-acre open-air shopping center begins operation under the Prestonwood Town Center name.

• 2004

  Enclosed mall is demolished

  [1]Prestonwood Town Centeren.wikipedia.org

  The original mall structure is removed after Archon abandons the enclosed-mall format.

• 2000

  Archon Group acquires the property

  [1]Prestonwood Town Centeren.wikipedia.org

  Archon Group takes ownership and proposes a telecommunications-focused redevelopment.

• 1997

  JCPenney departs

  [1]Prestonwood Town Centeren.wikipedia.org

  JCPenney closes its store, citing poor sales, accelerating the loss of major mall anchors.

• 1985

  DART transfer station opens nearby

  [1]Prestonwood Town Centeren.wikipedia.org

  A major DART bus transfer facility opens beside the mall, beginning a prolonged parking and access dispute.

• 1982

  Dallas Galleria increases regional competition

  [1]Prestonwood Town Centeren.wikipedia.org

  The opening of Dallas Galleria adds a major competing shopping destination in the surrounding market.

• 1979

  Original enclosed mall opens

  [1]Prestonwood Town Centeren.wikipedia.org

  A two-level Prestonwood Town Center opens in Dallas with five major department-store anchors and a central ice rink.

A Dallas-area open-air retail and services center that replaced a former regional enclosed mall while retaining its established local name.

• Enclosed shopping mall · 1979

  Original Prestonwood Town Center

  The original two-level enclosed mall operated from 1979 until its demolition in 2004. It combined department-store anchors with specialty retail, restaurants, and a central ice rink used for recreational skating and local hockey activities.

• Open-air retail center · 2006

  Prestonwood Town Center

  The replacement center opened in 2006 on the former mall site. It offers a broad mix of national retail chains, restaurants, and services, including Barnes & Noble, DSW, Michaels, Office Depot, Petco, Ulta Beauty, and Walmart.

• 2003

  Conversion from enclosed mall to open-air centerStrategy

  Background

  Planned renovations had not restored the mall's anchor base, and the property had lost its principal department-store tenants.

  Action taken

  Archon Group announced that the enclosed structure would be demolished and replaced by an open-air shopping center.

  Aftermath

  The mall was demolished by summer 2004, and a new retail center using the Prestonwood Town Center name opened in 2006.

  Source

• 2000

  Archon Group acquisitionM&A

  Background

  The enclosed mall had lost several important anchors and faced growing competition from newer regional shopping destinations.

  Action taken

  Archon Group acquired the property and proposed a large redevelopment under the Genisus Dallas North concept.

  Aftermath

  The telecommunications-oriented concept saw limited use and was later abandoned in favor of demolishing the mall and rebuilding an open-air retail center.

  Source

1. 1Prestonwood Town Centeren.wikipedia.org